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DELEGATE

DELEGATE NOW

STEP 1

Create KT address in your wallet.

STEP 2

Transfer tokens to the KT address.

STEP 3

Copy our delegate code into your wallet.

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    Fee Structure: 10%
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    Payment Schedule: Every 5 cycles
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    Minimum Payout: 1 XTZ
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    ROT: 8.49%

Terms & Conditions

ownBLOCK terms and conditions for Tezos Delegation Service


By using this website and our Delegation Service you are deemed to have read and agreed to the following terms and conditions.

Your attention is particularly drawn to Clauses 4.3 and 5.3 (No Disputes) and Clause 13 (Limitation of Liability)
 
1.  ABOUT US  
1.1  Company details. ownBLOCK Ltd (company number 11180270) (we and us) is a company registered in England and Wales and our registered office is at 71-75 Shelton Street, Covent Garden, London, England, WC2H 9JQ. We operate the website https://www.ownblock.com (Website).
1.2  Contacting us. You can contact us by telephone or e-mail at the number(s) and email address(es) published on our Website. 

2.  OUR SERVICE  
2.1  Nature of the Service. We provide a delegation service for Tezos tokens (Delegation Service).  The Delegation Service involves you delegating Tezos tokens from your Tezos wallet to our delegation address published on our Website (Delegation Address).  We bake your delegated tokens on your behalf and pass the rewards allocated by the Tezos network to you, less our Charges (as described in Clause 4).
2.1  Descriptions and illustrations. Any descriptions or illustrations on our Website are published for the sole purpose of giving an approximate idea of the Delegation Service described in them. They will not form part of the Contract or have any contractual force.]

2.  OUR CONTRACT WITH YOU  
2.1  Our contract. These terms and conditions (Terms) apply to the provision of the Delegation Service by us to you (Contract). They apply to the exclusion of any other terms, that you seek to impose or incorporate, or which are implied by trade, custom, practice or course of dealing.
2.2  Entire agreement. The Contract is the entire agreement between you and us in relation to its subject matter. You acknowledge that you have not relied on any statement, promise or representation or assurance or warranty that is not set out in the Contract.
 
3.  PLACING AN ORDER
3.1  Placing your order. By delegating Tezos tokens to our Delegation Address published on our Website, you are deemed to have placed an order for Delegation Services with us.  Such order is an offer by you to buy the Delegation Services subject to these Terms.
3.2  Accepting your order. We do not provide any explicit order confirmation or acceptance.  Once you have delegated Tezos tokens to our Delegation Address and we have started baking the tokens delegated by you, your order is deemed accepted.  We do reserve the right to reject your order, in which case we will reject the token delegation.

3.2  Terminating your Order. You may terminate your order at any time by revoking your token delegation from your wallet.  
 


4. REWARDS
4.1  Delegation Pool. By delegating Tezos tokens to us, your delegated tokens will form part of a delegation pool which is constituted by all tokens delegated to us by our customers or any other parties (Delegation Pool).
4.2  Allocation of Rewards. The Tezos network allocates rewards to us based on the entire Delegation Pool (Rewards). We allocate these Rewards to all customers and any other parties who have delegated tokens to us based on an allocation system determined by us in our sole discretion.  We publish an outline the allocation system on our Website. Allocation of Rewards is complex and the outline published on our Website may not contain all the details.

4.3  No Disputes. Our allocation of Rewards is final and you have no right to dispute it.  If you are unhappy at any time with the Rewards you receive, you may terminate your Order at any time as described in Clause 3.2.

5.  CHARGES  
5.1  Charges for the Service. In consideration of us providing the Delegation Services, you must pay our delegation fees (Charges).
5.2  Determination of the Charges. The Charges are the delegation fees quoted on our Website from time to time.  The Charges are expressed as a proportion of the Rewards. We reserve the right to change the Charges at any time by publishing the updated Charges on our Website and without any need to notify you.  The updated Charges will apply from the time they were published on our Website.
 
5.3  Deduction from Rewards. We will deduct the Charges from the Rewards allocated to you.
 
5.3  No Disputes.  Our determination of the Charges and deduction from your allocated Rewards is final and you have no right to dispute it.  If you are unhappy at any time with the net Rewards (after Charges) you receive, you may terminate your Order at any time as described in Clause 3.2.

6.  INTELLECTUAL PROPERTY RIGHTS  
6.1  All intellectual property rights in or arising out of or in connection with the Delegation Services will be owned by us.
7.  HOW WE MAY USE YOUR PERSONAL INFORMATION  
7.1  We will use any personal information you provide to us to:
(a)  provide the Delegation Services;
 
(b)  allocate Rewards and deduct Charges; and
 
(c)  inform you about similar services that we provide, but you may stop receiving these at any time by contacting us.
 
8.  LIMITATION OF LIABILITY  

8.1  The limits and exclusions in this clause reflect the nature of the Delegation Service. You are responsible for making your own arrangements for the insurance of any loss.

8.2  Nothing in the Contract limits any liability which cannot legally be limited, including liability for:
 
(a)  death or personal injury caused by negligence;
 
(b)  fraud or fraudulent misrepresentation; and
 
8.3  Subject to Clause 8.2, we will not be liable to you, whether in contract, tort (including negligence), for breach of statutory duty, or otherwise, arising under or in connection with the Contract for:
 
(a)  loss of profits;
 
(b)  loss of sales or business;
 
(c)  loss of agreements or contracts;
 
(d)  loss of anticipated savings;
(e)  loss of use or corruption of blockchain tokens;
(f)   loss of use or corruption of software, data or information;
(g)  loss of or damage to goodwill; and
(h)  any indirect or consequential loss.
 
8.4  Subject to Clause 7.2, our total liability to you arising under or in connection with the Contract, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, will be limited to the total Charges paid under the Contract.
 
9.  EVENTS OUTSIDE OUR CONTROL  
9.1  We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations under the Contract that is caused by any act or event beyond our reasonable control (Event Outside Our Control).
10.  GENERAL  
10.1  ASSIGNMENT AND TRANSFER.  
(a)  We may assign or transfer our rights and obligations under the Contract to another entity but will always notify you by posting on our Website if this happens.
 
(b)  You may only assign or transfer your rights or your obligations under the Contract to another person if we agree in writing.
 
10.2  Variation. Any variation of the Contract only has effect if it is in writing and signed by you and us (or our respective authorised representatives).
 
10.3  Waiver. If we do not insist that you perform any of your obligations under the Contract, or if we do not enforce our rights against you, or if we delay in doing so, that will not mean that we have waived our rights against you or that you do not have to comply with those obligations. If we do waive any rights, we will only do so in writing, and that will not mean that we will automatically waive any right related to any later default by you.
 
10.4  Severance. Each paragraph of these Terms operates separately. If any court or relevant authority decides that any of them is unlawful or unenforceable, the remaining paragraphs will remain in full force and effect.
 
10.5  Third party rights. The Contract is between you and us. No other person has any rights to enforce any of its terms.
 
10.6  Governing law and jurisdiction. The Contract is governed by English law and we each irrevocably agree to submit all disputes arising out of or in connection with the Contract to the exclusive jurisdiction of the English courts.


Fee Structure

The fee is 10% plus transaction fee, currently calculated at 0.0015 XTZ. Rewards are dynamic meaning the fee amount will change according to the calculated rewards within each cycle.

Payment Schedule

Payments are made every cycle. Be aware that you may not receive your rewards until later than the next cycle should you miss our payment schedule. To be notified of this, please subscribe to our Telegram channel.

Minimum Payout

The minimum amount that we will make payments for is 1 XTZ plus transaction fees, currently at 0.0015 XTZ. Should your rewards be below this amount, then you may miss our payment schedule.

ROT

The return on token is calculated by the Tezos blockchain. This is dynamic and depends on various factors such as network activity and integrity. For more information on what tokens you may expect to be returned to you, please visit our delegation service statistics at tezos.id.

CONTACT

CONTACT US